Thursday, August 09, 2007
Closing Comments
If you have limited resources (money, you dumb fucks), it makes little sense to hold positions overnight. Instead, why not take advantage of the wild intra-day swings, then go flat by the close?
As for me, I do not have the luxury of going 100% cash. So, I have been buying OEX puts and shorting those lazy fuckers from LAZ. And, I've been buying SRS. Just in case the world is round, I have been nibbling at CENX.
Essentially, the goal is to slow down the volatility, at least in my world. Many of my "core positions" have been raped and killed. What can I do, cry?
Fuck that.
Like anything else in life, if it doesn't rape and kill you, it makes you stronger.
With regards to the current tone of the market, it is God awful. Moreover, I fear the worst case scenario (unraveling of the yen carry trade and major U.S. bank going insolvent) may come to fruition. To take advantage of such "fun times," I am swapping my shitty dollars for yen, via FXY.
As for tech:
Everyone is professing staying long tech. I'm sorry. I have too many bad memories of being "tech wrecked," than to put much credence into that philosophy.
However, it's worth noting, there was incredible strength in a number of tech names today, especially semiconductors.
Look, I'm no economist and do not play one on the internets, but this whole sub prime shit is going to affect consumer spending, particularly luxury items-- as the Wall Street fuckers lose it all.
With my money, I want to remain flexible, via scalping day trades, and staying short financials, while nibbling on the basic material stocks (into weakness)-- just in case.
As for me, I do not have the luxury of going 100% cash. So, I have been buying OEX puts and shorting those lazy fuckers from LAZ. And, I've been buying SRS. Just in case the world is round, I have been nibbling at CENX.
Essentially, the goal is to slow down the volatility, at least in my world. Many of my "core positions" have been raped and killed. What can I do, cry?
Fuck that.
Like anything else in life, if it doesn't rape and kill you, it makes you stronger.
With regards to the current tone of the market, it is God awful. Moreover, I fear the worst case scenario (unraveling of the yen carry trade and major U.S. bank going insolvent) may come to fruition. To take advantage of such "fun times," I am swapping my shitty dollars for yen, via FXY.
As for tech:
Everyone is professing staying long tech. I'm sorry. I have too many bad memories of being "tech wrecked," than to put much credence into that philosophy.
However, it's worth noting, there was incredible strength in a number of tech names today, especially semiconductors.
Look, I'm no economist and do not play one on the internets, but this whole sub prime shit is going to affect consumer spending, particularly luxury items-- as the Wall Street fuckers lose it all.
With my money, I want to remain flexible, via scalping day trades, and staying short financials, while nibbling on the basic material stocks (into weakness)-- just in case.
Comments:
<< Home
Can someone educate me here? I am going to buy CFC. I may be playing with fire, I know. However, subprime is about 10% of the loans outstanding in the US, of that, there are small amounts of defaults. Have people forgotten that when they default, it's not like the banks are completely fucked, they still back their asset, the house. It's not like they were loaning money to subprimers for ponzi schemes and the money just disappeared. Granted it is aquired at a small loss but I'm not sure if it justifies CFCs %40+ drop from its 3 year trading range. The rest of the 90% of good credit borrowers still have to borrow money for homes, right?
HAHAHHA!
Anyway, glad to see you've joined the dark side (daytrading) for now, Fly.
I should be up huge this week but have been mindfucked. What can you do?
-DT
Anyway, glad to see you've joined the dark side (daytrading) for now, Fly.
I should be up huge this week but have been mindfucked. What can you do?
-DT
That's what I thought crude. It seems like CNBC is scaring everyone shitless, buying the dips and getting ready for Fall big dicked gains.
Go ahead Fly. Bet on CFC going bankrupt. I'll bet against it. CFC will never go bankrupt no matter how bad subprime or the housing crisis gets. As subprime unfolds and more lenders go out of business, CFC is only going to grab a bigger slice of the pie.
Fucking MCHX. My gut is right, again.
I should have sold it all.
I tried to warn some of you fuckers. However, it still would have resulted in a loss.
I should have sold it all.
I tried to warn some of you fuckers. However, it still would have resulted in a loss.
ugh! 2 bucks. looks like rev came in at 35M guidance. .10 was about expected, no? why down $2? fuuuuk
I'll tell you why MCHX being down 2 after reporting doesn't make sense. It's like playing bingo...if you're playing an earnings game, better have the report coming on a day like yesterday..ie CSCO.
Days like today...numbers don't matter..good==bad and bad==bad++
Stupid illogical sense...
Days like today...numbers don't matter..good==bad and bad==bad++
Stupid illogical sense...
Get it right people. MCHX ended regular trading at 11.73, and it's currently trading at 10.60.
11.73 minus 10.60 = 1.13 down after hours (not 2.00).
11.73 minus 10.60 = 1.13 down after hours (not 2.00).
interesting post from bill cara:
http://www.billcara.com/archives/2007/08/report_on_usdyen_and_from_a_be.html#more
http://www.billcara.com/archives/2007/08/report_on_usdyen_and_from_a_be.html#more
Fly- You have the calculator brain and all that, but I know I've got a fucking bigger calculator gut than you.
MCHX fuckers. Another one on the list.
MCHX fuckers. Another one on the list.
dung fly,
Fly told everyone to get the fuck out of MCHX before earnings a while ago, so shut the fuck up.
Fly told everyone to get the fuck out of MCHX before earnings a while ago, so shut the fuck up.
I have about 4-5 scenarios that could still play out on the NASDAQ, I will be eliminating the possibilities as they show themselves to be false (Elliott Wave) ... My gut tells me that this whole thing is getting overcooked, the fear is palpable, but I remember the old adage ... "The market can stay oversold longer than you can stay solvent" ...Very true.
Post a Comment
<< Home
